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Young individuals frequently acquire an informal understanding of money through socialization, such as by witnessing and listening to people around them including role models and their colleagues. They are not frequently exposed to more formal <a target="_blank" href="https://mintgenie.livemint.com/news/personal-finance/how-can-you-raise-an-education-loan-to-study-abroad-from-financial-institutions-151639482104801" rel="dofollow">financial education</a>, such as school curriculum or other training on allowances, spending, saving, and the significance of concentrating on short-term goals.

However, it's crucial that young people understand how to utilize their resources to the fullest extent possible. Vanshika Vasisht of Vastu Kala Academy, School of Architecture tells MintGenie in an interview about how money can reduce her financial dependence on anyone.

She mentions how studying architecture has brought out her personality of being a person who is always engaged with creative and aesthetic things. She loves to organize even the tiniest of all things and make everything around her a little more functional.

<h2>Edited Excerpts:</h2>What does money mean to you? Is it the most important factor when it comes to your life decisions like what to study, career and so forth?

Money for me is both security and liberty. It assures me to provide for my basic needs and reduces my financial dependence on anyone, giving me a sense of freedom. Money is a very important factor which has the power to change my decisions about career, studies, etc. but the foremost factor of my life decisions is my own interest and how enthusiastic I am about that particular thing.

What do you spend your money on every month at the moment? Can you give a breakup in percentage terms?

Since I am a college going student, travel and food become the majority of my spending. Up to college and site visits makes me spend about 60 percent of my money with 35 percent on purchasing food from outside. The remaining 5 percent is spent on architectural stationery and other activities.

What are the things you want to spend money on?

Talking about present times, I like to spend my money on travel dates with my friends and purchasing arts media and small decorative items. For the future, I would like to spend <a target="_blank" href="https://mintgenie.livemint.com/news/personal-finance/rupee-at-life-time-low-to-hit-imports-here-s-how-it-impacts-your-overseas-education-travel-151657872942670" rel="dofollow">travelling outside </a>the city with friends and family and providing for my parents.

Do you save money? If yes, how frequently and what do you do with this money?

Since I am a student and not financially independent currently, I am not able to save from the small amount of pocket money I get. And if occasionally I am successful to save a little amount, I end up spending it on day to day activities the next month.

What does having a job mean to you? What are the top two factors you will want to think about when deciding a company to work for?

To me, having a job means giving yourself a sense of identity and financial stability. When deciding a company to work for, the first thing I will consider is that I am not paid less with respect to my abilities. Since my field of work requires a lot of experience and exploration, the next thing I will focus on is exposure to people who will help me sharpen my skills.

What do you think about investing your money? If you have a certain amount of money set aside, will you want to invest it in the stock market, mutual funds, or do you just keep it in your bank savings account?

Investing for me is as important as earning. It assures me that I will not be financially dependent on anyone else especially in times of emergency. I have limited knowledge about the positives and negatives of the stock market, <a target="_blank" href="https://mintgenie.livemint.com/news/personal-finance/mutual-funds-why-is-it-vital-to-stay-invested-151658856279835" rel="dofollow">mutual funds</a> and <a target="_blank" href="https://mintgenie.livemint.com/news/personal-finance/planning-to-open-a-savings-account-here-are-4-ways-to-make-the-most-of-it-151658751099654" rel="dofollow">savings accounts</a>. I am willing to learn soon about them and then invest my surplus accordingly in future.

Do you think you have an understanding on how to save and invest? If yes, how did you learn? If not, are you trying to learn?

I only have limited understanding on how to smartly invest and save my money. All the basics I know have been gathered from my parents when they talk about the same. I am not putting too much effort currently into mastering the basics but definitely will before going out in the market as an architect.

Do you follow social media influencers and follow their investment advice?

Since I don’t spend much time worrying about investing currently, I also don’t follow the advice of social media influencers about the same.

Do you talk to your mother or your father about money and learn from them or follow their advice?

I do talk to my parents about money since they are my providers. Also I do acknowledge and try to learn their pattern of saving and investing because for me it’s the most reliable and tried and tested advice I can get from anyone.

Investing for me is as important as earning, says Architecture student Vanshika Vasisht

In order to comprehend what money means to today's youth in a growing world, this series explores students and young working professionals and their perspectives on money and finance.

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